Bitcoin Recovers From Drop to $102K, AAVE Skyrockets by Over 20% (Market Watch)

Bitcoin’s volatile ride that started on Sunday evening doubled down on Monday as the asset was stopped at $107,000, pushed south by over five grand, recovered to almost $107,000 once again and dipped in the past few hours.

Many altcoins have posted impressive gains on a daily scale, including ETH, which has jumped past $2,500.

BTC’s Ride

The bears seemed in charge at the end of the previous business week when they pushed bitcoin to under $102,000 on Thursday. However, the asset bounced off rather quickly and surged past $103,000 on Friday and spent most of the weekend trading sideways around that level.

On Sunday evening, though, the cryptocurrency started to gain traction and pumped to $106,000. It was stopped there and driven south to under $103,500, but the bulls initiated an even more impressive price surge in the following hours, resulting in BTC exceeding $107,000 for the first time since last January.

As bitcoin was nearing its all-time high, the landscape changed once again, and it slumped toward $102,000. Yet, that was not the end of the massively volatile ride as it skyrocketed once again, this time to a more modest peak of $106,600.

It was stopped there once again, but has managed to remain above $105,000 as of now. Its market cap has neared $2.090 trillion on CG, while its dominance over the alts stands tall at 60.7%.

AAVE on the Run

Many altcoins have erased yesterday’s losses. Ethereum, for instance, has returned to over $2,500 after a 5.5% daily surge. XRP defended a crucial support line and now sits at $2.35. SOL, TRX, SUI, LINK, AVAX, SHIB, HBAR, and TAO have posted gains of up to 7%.

However, AAVE stands in a league of its own from the larger-cap alts. The asset has skyrocketed by over 20% and now trades at $265.

The total crypto market cap has added almost $100 billion since yesterday and is up to $3.450 trillion on CG.